HSBC 2004 Annual Report Download - page 203

201
Renaissance Holdings, Inc.
Amended and Restated 1997 Incentive Plan
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
1 January
2004
Options
exercised
during year1
Options
lapsed
during year
Options at
31 December
2004
31 Oct 1997 1.25 31 Oct 1998 31 Oct 2007 4,739 – – 4,739
1 Jan 1998 1.25 1 Jan 1999 1 Jan 2008 3,224 1,800 – 1,424
1 Oct 1998 1.74 1 Oct 1999 1 Oct 2008 2,810 1,204 – 1,606
1 Jan 1999 2.24 1 Jan 2000 1 Jan 2009 5,024 – – 5,024
1The weighted average closing price of the shares immediately before the dates on which options were exercised was £8.84.
Bank of Bermuda plans
Following the acquisition of Bank of Bermuda on 18
February 2004, all outstanding options over Bank of
Bermuda shares were converted into rights to receive
HSBC Holdings ordinary shares based on the
consideration of US$40 for each Bank of Bermuda
share and the average closing price of HSBC
Holdings ordinary shares, derived from the London
Stock Exchange Daily Official List, for the five
business days preceding the closing date of the
acquisition. No further options will be granted under
any of these plans.
All outstanding options over Bank of Bermuda
shares vested on completion of the acquisition. At 31
December 2004, the HSBC (Bank of Bermuda)
Employee Benefit Trust 2004 held 3,255,273 HSBC
Holdings ordinary shares which may be used to
satisfy the exercise of these options.
Bank of Bermuda
Executive Share Option Plan 1997
HSBC Holdings ordinary shares of US$0.50
Date of
award
Exercise
price (US$)
Exercisable
from
Exercisable
until
Options at
18 February
2004
Options
exercised
during period1
Options
lapsed
during period
Options at
31 December
2004
12 Jun 1997 3.86 12 Jun 1998 12 Jun 2007 245,196 245,196 – –
22 Dec 1997 6.33 22 Dec 1998 22 Dec 2007 33,906 33,906 – –
1 Jul 1998 9.61 1 Jul 1999 1 Jul 2008 67,813 – – 67,813
23 Jul 1998 8.58 23 Jul 1999 23 Jul 2008 139,019 139,019 – –
23 Feb 1999 7.40 23 Feb 2000 23 Feb 2009 24,998 6,534 – 18,464
26 Jul 1999 6.66 26 Jul 2000 26 Jul 2009 159,363 159,363 – –
3 Aug 1999 7.10 3 Aug 2000 3 Aug 2009 9,331 – – 9,331
4 Feb 2000 7.21 4 Feb 2001 4 Feb 2010 88,777 19,266 1,586 67,925
7 Apr 2000 7.37 7 Apr 2001 7 Apr 2010 385 – – 385
29 May 2000 7.21 29 May 2001 29 May 2010 15,411 – – 15,411
1 Jun 2000 7.04 1 Jun 2001 1 Jun 2010 61,649 – – 61,649
31 Jul 2000 10.11 31 Jul 2001 31 Jul 2010 166,454 – – 166,454
19 Sep 2000 11.31 19 Sep 2001 19 Sep 2010 40,458 – – 40,458
11 Jan 2001 14.27 11 Jan 2002 11 Jan 2011 161,829 – – 161,829
1 The weighted average closing price of the shares immediately before the dates on which options were exercised was £8.85.